Deciphering which company has the best insurance rates in Elkhart takes a bit more work than just comparing a company or two.
Each auto insurer has their own process to set their prices, so let's take a look at the lowest cost insurance companies in Elkhart, IN. It's important to know that Indiana insurance rates are influenced by many factors that can increase the price you pay. Simply having a birthday, marrying your spouse, or getting a driving violation can trigger rate changes that may make certain companies more affordable than before.
|Rank||Company||Cost Per Year|
|5||Indiana Farmers Mutual||$849|
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Travelers generally has some of the cheapest car insurance rates in Elkhart at around $614 a year. This is $626 less than the average premium paid by Indiana drivers of $1,240. USAA, Cincinnati Insurance, Erie, and Indiana Farmers Mutual also rank well as some of the cheapest Elkhart, IN car insurance companies.
As illustrated above, if you have coverage with Cincinnati Insurance and switched to Travelers, you may see annual savings of about $70. Policyholders with Erie could save as much as $91 a year, and Indiana Farmers Mutual insureds might lower prices by $235 a year.
These rates are averaged for all drivers and vehicles and and are not calculated with an exact zip code location in Elkhart. So the company that fits your age and vehicle best may not even be in the top 36 companies in the list above. That's why you need to get quotes using your own specific driver and vehicle information.
One of the many criteria that help determine insurance cost is where your residence is in Elkhart. Cities with larger populations or higher claim trends will most likely have higher rates, whereas areas with lower crime rates and fewer weather claims can boast about having cheaper rates.
The illustration below ranks the priciest cities in Indiana to buy car insurance in. Elkhart ranks #13 with an annual cost of $995 on average, which is about $83 each month.
|Rank||City||Premium Per Year|
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Table data uses approximated as the specific zip code location can affect coverage prices considerably.
The type of vehicle you are seeking coverage for is a large factor that determines whether or not you find the most economical auto insurance in Elkhart. Vehicles with lower performance, an excellent safety record, or a track record of few liability claims will cost substantially less to insure than fast, unsafe models.
The next list presents insurance rates for a handful of the most economical vehicles to insure in Indiana.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$821|
|Hyundai Elantra GLS Touring Station Wagon||$896|
|Ford Explorer Eddie Bauer 2WD||$923|
|Ford Escape XLT 4WD||$941|
|Honda Odyssey EX W/Rear Entertainment||$954|
|Chevrolet Malibu Hybrid||$974|
|Toyota RAV4 2WD||$981|
|Dodge Grand Caravan SE||$1,025|
|Jeep Wrangler Rubicon 4WD 2-Dr||$1,034|
|Ford Fusion Sport 4-Dr Sedan||$1,045|
|Chevrolet Impala LT||$1,058|
|Honda Civic GX 4-Dr Sedan||$1,076|
|Ford F-350 XL Super Cab Turbo Diesel 2WD||$1,082|
|Ford F-150 Lariat Super Cab 2WD||$1,111|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$1,118|
|Toyota Camry Hybrid||$1,113|
|GMC Sierra SL Crew Cab 4WD||$1,138|
|Chevrolet Equinox LTZ 2WD||$1,145|
|Volkswagen Jetta SEL 4-Dr Sedan||$1,138|
|Toyota Camry XLE||$1,144|
|Ford Edge Sport AWD||$1,154|
|Dodge Ram Quad Cab SLT 4WD||$1,155|
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Premium data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Price information does not factor in Elkhart, IN location which can affect prices significantly.
Based on these rates, you can conclude that cars like the Honda CR-V, Hyundai Elantra, Toyota Prius, Ford Explorer, and Ford Escape are most likely to be some of the most budget-friendly vehicles to insure for drivers in Elkhart.
The example below illustrates how choosing a deductible can influence annual premium costs when quoting cheap insurance in Elkhart. The data assumes a single male driver, full physical damage coverage, and no discounts are applied.
As shown above, a 40-year-old driver could save $230 a year by increasing from a $100 deductible up to a $500 deductible, or save $348 by changing to a $1,000 deductible. Even younger drivers, like the Age 20 category, can cut up to $756 or even more just by choosing larger deductibles. When increasing deductibles, it will be necessary to have emergency funds available to enable you to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
How to find the cheapest auto insurance in Elkhart
Below you'll find some of the recommended thrifty suggestions that can help you buy cheap coverage.
- Raise your physical damage coverage deductibles
- Frequent claims will increase rates
- Buying home and auto insurance together can earn discounts
- Safe vehicles cost less to insure
- Remove physical damage coverage on older vehicles
- Higher credit scores may earn you cheaper rates
- Compare rate quotes frequently
That last tip is certainly vital, as was affirmed in this piece. Insurance prices change frequently, so drivers shouldn't be reluctant to switch to a new company if a lower-cost policy is available. Having a favorite company is fine, but is isn't recommended if that loyalty ends up costing big bucks every year. Now is a great time to compare prices to find cheaper insurance in Elkhart.